Oil prices rise amid strong US demand and stock decline

News Department
Author

Global oil prices moderately increased on Thursday morning, driven by strong demand in the United States, Report informs, citing trading data.

October futures for Brent crude rose by 0.46% to $67.15 per barrel, while WTI October futures climbed 0.54% to $63.05.

The price growth was supported by US inventory data released Thursday. Commercial crude oil stocks in the country (excluding the strategic reserve) fell by 6 million barrels to 420.7 million for the week ending August 15—exceeding market expectations. Gasoline inventories also dropped by 2.7 million barrels (1.2%) to 223.6 million.

Other News

SOCAR: Energy cooperation between Azerbaijan, Serbia strategic in nature 14 February, 2026 / 11:14
Azerbaijani oil price in global market falls 14 February, 2026 / 09:21
Azerbaijan exported about 12 bcm of gas to Türkiye in 2025 13 February, 2026 / 16:03
EU to provide €5 million for municipal projects in Azerbaijan 13 February, 2026 / 13:40
EU plans Energy Days in Azerbaijan under Covenant of Mayors initiative 13 February, 2026 / 13:23
Energy efficiency key to Azerbaijan's sustainable dev't agenda 13 February, 2026 / 12:56
Team leader: Interest in Covenant of Mayors initiative growing in Azerbaijan 13 February, 2026 / 12:42
Ambassador: Agreement for supply of Russian gas to Iran being prepared 13 February, 2026 / 12:15
Energy efficiency cuts costs for municipalities, says EU envoy to Baku 13 February, 2026 / 12:06
EU backs Azerbaijani municipalities on climate action 13 February, 2026 / 11:44
Azerbaijan lagged behind OPEC+ quota by 90,000 bpd in January 13 February, 2026 / 11:11
Oil prices fall as tensions between US, Iran, Venezuela ease 13 February, 2026 / 10:39
Azeri Light price falls 3% to $70 per barrel 13 February, 2026 / 10:05
Reuters: Saudi-backed Midad signs term sheet with Lukoil for sanctioned assets 13 February, 2026 / 09:58
Budapest intends to cooperate with Baku in green energy 12 February, 2026 / 20:25
SOCAR president mulls energy co-op with Israel, US with Betsy Berns Korn 12 February, 2026 / 19:51
Azerbaijan, Exxon Mobil discuss cooperation priorities 12 February, 2026 / 17:20
Natural gas consumption in Azerbaijan falls 3.1% in 2025 12 February, 2026 / 16:42
BTC's capital expenditures grew more than twofold in 2025 12 February, 2026 / 16:36
Number of BP's Azerbaijani employees dropped nearly 3% in 2025 12 February, 2026 / 16:35